Investment Opportunity Near the University of Toledo: 1627 Fernwood Ave, Toledo, OH 43607

Investment Opportunity Near the University of Toledo: 1627 Fernwood Ave, Toledo, OH 43607

Priced attractively at $30,000, the property at 1627 Fernwood Avenue in Toledo, Ohio, presents a rare opportunity for investors, flippers, or those looking to build equity through renovation. This three-bedroom, one-bath home sits just minutes from the University of Toledo, making it an appealing option for a future rental, student housing project, or personal residence after restoration. While the home requires substantial work, its potential is undeniable for the right buyer willing to invest time, effort, and creativity.

A Project with Potential

At first glance, this property’s low price immediately reflects its condition—this is not a move-in-ready home. The listing clearly notes that the house needs a full renovation inside and out. The roof leaks, and mechanical systems such as the water heater and furnace are missing, meaning essential repairs will be required before the home becomes livable. However, for seasoned investors or DIY renovators, these challenges can also be opportunities. Properties like this often allow buyers to design their space exactly how they want it while building significant value through upgrades.

The home’s three-bedroom, one-bath layout offers flexibility and appeal to a variety of future occupants. With some thoughtful remodeling, this property could be transformed into a comfortable family home or a student rental—two strong markets in Toledo. The proximity to the university ensures a steady demand for housing, especially in an area where affordable rental options are highly sought after.

Convenient Location

Located in a residential neighborhood near the University of Toledo, 1627 Fernwood Ave benefits from an excellent location that enhances its investment potential. The area is close to shopping, dining, parks, and major roadways, providing convenience for students and families alike. Its central location also makes it easy to reach downtown Toledo and other major city attractions.

For investors, being near a major university often means consistent rental demand. Properties in this area can perform well as long-term rentals or short-term leases for students and faculty. Once renovated, this home could easily become a reliable source of passive income.

Features and Layout

The home includes off-street parking with alley access and a driveway, a valuable feature in urban areas. There are uncovered parking spaces available, offering convenience for residents and visitors. The lot provides outdoor space that could be enhanced with landscaping or used for future additions such as a patio, garden, or fenced backyard.

Inside, the home’s layout provides the essential structure needed for a modern renovation. With three bedrooms, the property can comfortably accommodate a small family, roommates, or a couple looking for extra space. The single bathroom could be modernized with updated fixtures, tiling, and efficient storage solutions. Though it requires a full overhaul, the home’s compact footprint makes renovation costs more manageable compared to larger properties.

Ideal for Cash or Renovation Financing

Because of its current condition, the seller is offering the property strictly as-is, with no repairs or warranties. Buyers must rely on cash or renovation loans such as an FHA 203(k) or similar financing designed for fixer-uppers. This approach allows investors to budget for both the purchase and the necessary rehabilitation work in one streamlined loan.

The seller’s “as-is” terms also mean that all inspections and due diligence are the buyer’s responsibility. Prospective buyers should plan for a thorough property inspection to assess the extent of repairs needed and create a detailed renovation plan.

Final Thoughts

1627 Fernwood Avenue represents the kind of real estate opportunity that doesn’t come along every day—an affordable property with tremendous upside potential in a desirable location near a major university. While it will require a vision, a plan, and significant renovation work, the reward could be well worth the effort.

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